Midnight rally

[SunTrader]

So eMini opened Thursday night @ 3905.25 and hit a high in the globex session waaaay up @ 3914.00 then closed the session Friday morning 930am down @ 3901.75

During the regular session the high was 3936.25 right at the close which was 2 ticks lower.

So all the moves happen overnight do they. And not an isolated instance.

 

[chillibean]

profit target order set at 3945 for a modest +10 on my buy the close system.
Looking to hit in the next hour or so from the looks of it

bang!
Out here +10
Will probably regret closing, but never mind
Hopefully it gives us a little dip to get back in long

80 odd points made so far using this edge with my posted trades. If I can just make 10 points or so everyday, i'll be good

 

[Rickshaw Man]

From time to time you will have pea brains pop up and notice there are large moves during the US trading session. They act as if they have uncovered something big.

Like when the index futures don't rise overnight. No one ever said the index futures rise every single night. Or that all the big moves occur in the overnight session.

Check back tomorrow morning.

 

[chillibean]

L 3948
Putting in profit target at +10

 

[Overnight]

L 3948
Putting in profit target at +10

By my charts, you hit your profit target. Nice work.

 

[chillibean]

L 3948
Putting in profit target at +10

Filled ovenight for+10

That's 90 ES points profit in live, closed trades since discovering this thread. Thanks OP
So tempted to go long here because of the big drop, but should probably wait until the close?

I'm gonna buy some here for 3951 but will close it for just 6 points profit - bit more modest

 

[Laissez Faire]

Filled ovenight for+10

That's 90 ES points profit in live, closed trades since discovering this thread.
So tempted to go long here because of the big drop, but should probably wait until the close?

I'm gonna buy some here for 3951 but will close it for just 6 points profit - bit more modest

There's nothing magical about profiting from long entries in a bull market which essentially is what this strategy is. It works when markets go up. Less so when markets go down.

If I'm not mistaken - several of the participants in this thread have taken some large hits eventually, so do use a stop.

Anyway. Good catch.

 

[SunTrader]

There's nothing magical about profiting from long entries in a bull market ...

......... particularly in the globex overnight session no matter what a certain cheerleader says.

1) ES Globex ATR(10) 2) ES RTH ATR(10):-

Volatility rises and falls over time back and forth in between either session, but as the charts show currently, RTH has a much higher (34.75 vs 13.30) reading.

 

[chillibean]

Filled ovenight for+10

That's 90 ES points profit in live, closed trades since discovering this thread. Thanks OP
So tempted to go long here because of the big drop, but should probably wait until the close?

I'm gonna buy some here for 3951 but will close it for just 6 points profit - bit more modest

Adding L here at 42 ES

 

[SunTrader]

Further to my post # 1068 (two above) - made a formatting error in globex session chart making it similar length as RTH when it is twice as long timewise so two bars per session were plotted which affected ATR output.

After correction RTH is still higher, currently as I said 34.75, but globex is 30.88

So not as great a difference but still in RTH's favor.